you're reading...

Market Update: Purchase Apps, Jobless Claims and Mortgage Bonds


Stocks are lower and Mortgage Bonds are higher so far this morning.  It’s a relatively quiet economic news days, but the week heats up Wednesday with Purchase Applications, the Fed Minutes, and a 10-year Treasury Note Auction.  On Thursday, Initial Jobless Claims will be released and there will be a 30-year Treasury Bond Auction, and Friday we will receive the Producer Price Index and Consumer Sentiment.

Mortgage Bonds are trading just below overhead resistance at the 50-day Moving Average.  If prices can break above this level, the next layer of resistance is 36bp higher at 104.69.  The 10-year Treasury Note Yield is trading just above the important 2.70 level.  We can begin the day floating, but if Stocks can turn around and improve, it will be at the expense of Bonds. 


About PhilJawny

Award winning mortgage banker with over 14 years of experience.


No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow me on Twitter

%d bloggers like this: